Furniture Marketplace Pepperfry Secures Rs 43 Cr From Existing Investors

pepperfry, an omnichannel furniture marketplace has raised Rs 43.3 crore (about $5.1) million in a funding round led by General Electric Pension Trust along with existing investors.

As per documents from the Registrar of Companies (RoC), General Electric Pension Trust made the biggest investment of ₹21.5 crore. Norwest Venture Partners and Panthera Growth Partners invested ₹8.52 crore and ₹6.45 crore, respectively. Pepperfry’s board approved the issuance of 5,59,463 compulsory convertible preference shares at ₹775 each through private placement.

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"The purpose of issuance is to raise funds for the growth, expansion and general corporate activities of the Company," stated the regulatory filing.

The company last raised $23 million in September 2023 from the same group of investors. Back in 2021, it had also taken $45 million in debt to expand its operations and get ready for a public listing.

The funding comes as Pepperfry deals with slow growth and tries to reduce its losses. In FY24, its operating revenue dropped by 30.6% to ₹188.98 crore. However, it was able to cut its losses to ₹117.4 crore, which is 37% less than the ₹187.6 crore loss it had the previous year.

About Pepperfry 

Founded in 2012 by Ambareesh Murty and Ashish Shah, The Mumbai-based Pepperfry runs a marketplace where it sells over 10,000 furniture and home décor items online and through 200+ experience studios in 100 cities. Most of its income comes from commissions on third-party product sales. Recently, it has added several direct-to-consumer home décor brands to its platform.

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